AKAM runs into sellers again around 72.24


Akamai Technologies Inc (AKAM) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
AKAM pushes through 20-day moving average
AKAM runs into sellers again around 72.24
AKAM closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

AKAM finished Monday at 71.64 edging higher $0.21 (0.29%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for AKAM
Volatility

Monday's trading range was $0.82 (1.14%), that's far below last trading month's daily average range of $1.59. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to the key resistance level at 72.59. After having been unable to move above 72.24 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 72.24.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock managed to break above the 20-day moving average at 71.32 today for the first time since April 12th.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 72.60 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 71.10 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Akamai Technologies Inc
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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